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Top Market Shifts Transforming the SCADA Oil And Gas Market Landscape: Key Insights
SCADA Oil And Gas
What Is the Expected CAGR for the SCADA Oil And Gas Market Through 2025?
The market size of the scada oil and gas sector has seen significant expansion in the past few years. Its value is projected to increase from $4.42 billion in 2024 to $4.72 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.7%. This historical growth has been fuelled by factors such as the escalating intricacy of oil and gas procedures, the necessity for pipeline oversight, asset management demands, safety and regulatory compliance, as well as enhancements in efficiency and productivity.
What's the Projected Size of the Global SCADA Oil And Gas Market by 2029?
Predictions are indicating robust expansion in the SCADA oil and gas market in the coming years. The growth is expected to reach $6.43 billion in 2029, expanding at a compound annual growth rate (CAGR) of 8.1%. The progress during this forecasted period is largely credited to elements such as digital transformation projects, incorporation of renewable energy, utilization of predictive analytics, emphasis on environmental sustainability, and the need for remote operations. Key trends expected during this time consist of Industrial Internet of Things (IIoT) integration, enhancements in cybersecurity, SCADA solutions based on the cloud, remote observing and regulating, sophisticated data analytics and AI, and edge computing for immediate processing.
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Top Growth Drivers in the SCADA Oil And Gas Industry: What's Accelerating the Market?
The expansion of the oil and gas market, fuelled by escalating demand, is predicted to drive growth in the SCADA oil and gas market. The oil and gas industries are important sectors within the energy market, functioning as key sources of primary fuel globally. SCADA, or Supervisory Control and Data Acquisition, is a sophisticated control system that manages real-time processes applicable to oil and gas collection, transmission, and distribution. For example, the U.S. Energy Information Administration (eia), a US government agency, reported in April 2024 that the electric power sector saw the most substantial increase in natural gas consumption among U.S. economic sectors in 2023, jumping 7% (2.2 Bcf/d) from 33.2 Bcf/d in 2022 to a record peak of 35.4 Bcf/d. Therefore, the rising demand in the oil and gas market is a key driver in the growth of the SCADA oil and gas market.
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What Trends Will Shape the SCADA Oil And Gas Market Through 2029 and Beyond?
The emergence of product innovation is a significant trend gaining traction in the SCADA oil and gas industry, as key companies in the market compete to strengthen their positions through the development of innovative products. For instance, in February 2022, GE Digital, an American software firm, introduced an upgraded version of its ingenious CIMPLICITY 2022 HMI/SCADA software. This secure-by-design automation platform offers authentic client/server visualization and control, extending from single machines to international plant locations, thereby aiding industrial firms in operation management, supporting connected workers, and facilitating quick value realization with minimal or no-code innovation. Additionally, this latest release provides the choice to install either on-site, in the cloud, or in a mixed architecture to reduce infrastructure and maintenance costs. The innovative operator interfaces of CIMPLICITY and its reliable, real-time monitoring feature provide meaningful assistance to power utility operators working with GE Gas Power's gas turbine fleet.
What Are the Main Segments in the SCADA Oil And Gas Market?
The SCADA oil and gas market covered in this report is segmented -
1) By Type: Supervisory Control System, Data Acquisition System
2) By System: Hardware, Software, Services
3) By Industry: Upstream, Midstream, Downstream
Subsegments:
1) By Supervisory Control System: Centralized Supervisory Control Systems, Decentralized Supervisory Control Systems
2) By Data Acquisition System: Remote Terminal Units (RTUs), Programmable Logic Controllers (PLCs), Data Communication Systems
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Which Top Companies are Driving Growth in the SCADA Oil And Gas Market?
Major companies operating in the SCADA oil and gas market include ABB Ltd., General Electric Company, Schneider Electric SE, Rockwell Automation Inc., Siemens AG, Emerson Electric Co., ICONICS Inc., Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Honeywell International Inc., PSI Software AG, Orbcomm Inc., Bentek Systems, Larsen & Toubro Technology Services Limited, Omron Corporation, Inductive Automation, Weatherford International plc, Technical Toolboxes Inc., Avanceon Limited, TRC Advanced Technologies Inc., International Business Machines Corporation, Honeywell Process Solutions, Parametric Technology Corporation, AVEVA Group plc, CGG SA, Aucotec AG, eLynx Technologies LLC, Petrolink Services Inc., Apergy Corporation, Petrotechnics Ltd, Kepware Technologies, EnergySys Limited, Genscape Inc., P2 Energy Solutions LLC, Quorum Business Solutions Inc., Zedi Inc., WellAware Holdings Inc.
Which Regions Will Dominate the SCADA Oil And Gas Market Through 2029?
North America was the largest region in the SCADA oil and gas market in 2024. The regions covered in the SCADA oil and gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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